Thrivent Financial For Lutherans boosted its holdings in Cognex Co. (NASDAQ:CGNX) by 101.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 141,550 shares of the scientific and technical instruments company’s stock after acquiring an additional 71,222 shares during the period. Thrivent Financial For Lutherans owned 0.08% of Cognex worth $8,657,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of CGNX. Victory Capital Management Inc. raised its stake in Cognex by 623.1% in the 3rd quarter. Victory Capital Management Inc. now owns 110,580 shares of the scientific and technical instruments company’s stock valued at $12,195,000 after acquiring an additional 95,288 shares during the period. Daiwa Securities Group Inc. raised its stake in Cognex by 99.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,399 shares of the scientific and technical instruments company’s stock valued at $264,000 after acquiring an additional 1,199 shares during the period. FDx Advisors Inc. raised its stake in Cognex by 7.5% in the 3rd quarter. FDx Advisors Inc. now owns 6,416 shares of the scientific and technical instruments company’s stock valued at $708,000 after acquiring an additional 447 shares during the period. Sei Investments Co. raised its stake in Cognex by 1,209.3% in the 3rd quarter. Sei Investments Co. now owns 59,324 shares of the scientific and technical instruments company’s stock valued at $6,542,000 after acquiring an additional 54,793 shares during the period. Finally, Retirement Systems of Alabama raised its stake in Cognex by 20.1% in the 3rd quarter. Retirement Systems of Alabama now owns 134,202 shares of the scientific and technical instruments company’s stock valued at $14,800,000 after acquiring an additional 22,501 shares during the period. Institutional investors and hedge funds own 81.97% of the company’s stock.
A number of research firms recently weighed in on CGNX. ValuEngine cut Cognex from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. BidaskClub raised Cognex from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. Zacks Investment Research raised Cognex from a “sell” rating to a “hold” rating in a report on Tuesday, February 13th. Finally, Deutsche Bank set a $80.00 price objective on Cognex and gave the company a “buy” rating in a report on Friday, January 19th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $66.83.
Cognex Co. (NASDAQ CGNX) opened at $54.93 on Wednesday. Cognex Co. has a 1-year low of $38.67 and a 1-year high of $72.99. The company has a market capitalization of $9,772.66, a price-to-earnings ratio of 39.10 and a beta of 1.54.
Cognex (NASDAQ:CGNX) last issued its quarterly earnings data on Thursday, February 15th. The scientific and technical instruments company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. Cognex had a return on equity of 24.23% and a net margin of 23.69%. The firm had revenue of $180.37 million for the quarter, compared to analyst estimates of $178.75 million. During the same period in the prior year, the firm posted $0.20 EPS. The company’s revenue for the quarter was up 39.5% on a year-over-year basis. equities research analysts predict that Cognex Co. will post 1.4 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, March 2nd will be issued a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Thursday, March 1st. Cognex’s dividend payout ratio (DPR) is currently 18.37%.
Cognex announced that its board has initiated a stock repurchase program on Thursday, February 15th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
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Cognex Company Profile
Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process.
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